On the initial day of its initial public offering (IPO), Ola Electric Mobility, India’s foremost participant in the electric two-wheeler market, garnered substantial investor interest.
The initial public offering (IPO) has been subscribed to 0.17 times as of 11:23 AM on August 2, 2024, with a lot size of 195 shares and a price range of Rs 72-76.
Retail investors were the most active, subscribing to the IPO 0.78 times. Non-institutional investors (NII) followed at 0.07 times. Nevertheless, there have been no proposals from qualified institutional buyers (QIB) to date.
Investors may submit bids for the Ola Electric IPO until it concludes on Tuesday, August 6, 2024. Retail investors are required to invest a minimum of Rs 14,820, with a minimum offer of 195 shares and multiples thereof.
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The Ola Electric IPO’s grey market premium (GMP) is currently quoted at Rs 12-15 or 16-20 percent at the upper end of the IPO price band. The demand for a public issue is typically indicated by the GMP.
The public issue consists of a fresh issue of 723,684,210 equity shares, which will aggregate up to Rs 5,500 crore, and an offer for sale by promoters and investors, which will dispose of 84,941,997 shares with a face value of Rs 10 each.
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